Ukraine crisis: S&P lowers Russia's foreign currency rating to 'BB+'
It added that sanctions announced on Russia could have significant direct and second-round effects on its economic and foreign trade activity.
- Feb 26, 2022,
- Updated Feb 26, 2022 1:15 PM IST
Rating agency S&P said on Friday it lowered Russia's long-term foreign currency sovereign credit ratings to 'BB+/B' from 'BBB-/A-3' and local currency ratings to 'BBB-/A-3' from 'BBB/A-2'.
The sanctions announced on Russia could have significant direct and second-round effects on its economic and foreign trade activity, and financial stability, S&P said.
Also read: Russia-Ukraine Crisis: Edible oil prices to surge again
Also read: Russia's forces launch missile strikes on Ukrainian cities including Kyiv
Rating agency S&P said on Friday it lowered Russia's long-term foreign currency sovereign credit ratings to 'BB+/B' from 'BBB-/A-3' and local currency ratings to 'BBB-/A-3' from 'BBB/A-2'.
The sanctions announced on Russia could have significant direct and second-round effects on its economic and foreign trade activity, and financial stability, S&P said.
Also read: Russia-Ukraine Crisis: Edible oil prices to surge again
Also read: Russia's forces launch missile strikes on Ukrainian cities including Kyiv